POS Software Blog

Merchants Ring in the New Year with the Power of POS Data

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I've always been fascinated with how words take on new meaning within particular industries or social circles. In retail and hospitality, the word "ring" is a prime example. Anyone who has ever worked as a clerk, a cashier, a server, a bartender, a delivery person, etc is familiar with "ringing" up a customer or guest check. The derivative of this industry-specific term is the sound made by a cash register drawer. Most older cash registers contained a bell that would ring each time the cash drawer fired open. Many modern-day computer peripheral cash drawer devices used with automated POS (point-of-sale) systems also contain optional bells that will ring each time the POS system fires the cash drawer.

 So, what can merchants do to "ring" in the New Year in 2013 by keeping the cash drawers "ringing?" The Holiday shopping season has ended. Returns seem to be as frequent as sales at the POS terminals. The cold weather has consumers dormant in their homes and offices. What can be done to generate additional revenue during these tough winter months?

 Here are a few ideas:

1. Reach out to your customer base. Don't allow your business to be "out of sight - out of mind.". You've gathered many email addresses with your POS system during the busy Holiday season. Convert those email addresses into revenue by sending targeted communication pieces based on demographics and purchase history.
2. Be mindful that gift cards continue to be a powerful tool even after Holiday shopping has ended. If you promoted your gift card program during 2012, strong redemption numbers should help your revenues during the slower winter months of 2013. Provide plenty of reasons for gift card holders to visit your business to use their cards through promotions, proper merchandising, staffing levels and product offerings.
3. Promote your POS customer loyalty program during slow times. Offer double points on purchases through January and February to jumpstart 2013. Many of your visitors during these months may be first-time customers redeeming gift cards or exchanging items they received as gifts. Give them every reason to return as loyal customers in 2012.
4. Act on the powerful messages your POS system is sending you. Analyze the trends from last year and act on them now. Maximize profits through proper ordering and staffing.

Your POS system provides powerful tools to help you "ring" in the New Year. We are well beyond the days of using POS systems only to "ring up" customer orders. January is an opportunistic time that is often overlooked. Let's get 2013 off to a great start by utilizing the power of the POS to drive additional revenue. If you would like to learn more about using the power of POS to drive revenue, click the button below for a FREE consultation with an industry expert: